This new service will enable members to test the effectiveness of existing cover and secure an alternative quote. It will also open-up exclusive access to specialist insurance products at highly competitive prices. Members will be supported with Professional Indemnity, Contractors All Risk, Commercial Combined Business Insurance, Directors and Officers Insurance, Motor, Performance Bonds and a range of other relevant specialist insurance products.
FIS is focused on compliance and improved risk management in the finishes and interiors sector. In the past couple of years members have increasingly raised concerns related to rising insurance premiums, reduced cover, onerous endorsements and at times the inability to gain access to the correct cover.
The aim of this new service is to leverage the collective power of its membership to create greater awareness of the risks faced in our sectors and enable meaningful research and development to be carried out, driven from claims and risk data for our members.
This new partnership will support the development of a deeper understanding of claims, how risk is being assessed and to develop different and a more progressive relationship with the insurance sector, one that offers a truly bespoke service whilst also allowing for greater access to insurance products at improved pricing structures.
Commenting on the scheme, FIS CEO Iain McIlwee said:
“The insurance market has hardened significantly in recent years and created a real challenge for members in large parts of our market. This new relationship is structured to help us to better understand and attack this problem and work better as a community.
Our mission is all about building an effective compliance environment and reducing risk for members. Understanding the scope and causes of any claim is key to this, as is establishing a closer working link with the insurance sector to help manage out the causes of claims. We see this as very much a first step in terms of developing a healthier insurance umbrella for our community and focusing our technical and commercial services on reducing risk.”
Mark Potter from Construction Shield added:
“We are enjoying working with FIS who have shown themselves to be a progressive and innovative trade body and very dedicated to the needs of their community. We look forward to working more closely with this community and better understanding pricing and helping to manage risk and also present a healthy and attractive sector to the insurance world. This is something we see progressing over the next few years and we have some exciting ideas around creating a captive and possibly one day a mutual solution that could serve this sector”
The service was officially launhed at the FIS AGM and Regional Conference on 6 October in London.
To obtain a quote, members need to contact Construction Shield on 0121-622-1266 at least 6 weeks prior to their renewal date. They will ask you to provide the schedule from last year’s policy and any details that may have changed or evolved in your business. Construction Shield and AWL Homeproof will aim to secure the best possible price for you.